Official Spring Budget 2024 thread

[Contractor UK]

Thoughts on the Spring Budget?

[sreed]

Love the additional 5k British ISA allowance. But disappointed that they didn’t call it a Great British ISA. That would’ve been so much better!

[edison]

Just tinkering round the edges trying to make a bit of a show before the looming election, presumably in autumn now.

There's little on on offer to solve some long term structural issues such as low skills, productivity and business investment which is keeping the UK growing at anaemic levels with resultant lack of real incomes growth.

We're still likely to have a historically high tax burden for years to come and lack of investment in pubic services.

With the likely fiscal constraints, I doubt an incoming Labour government could improve things much in a first term.

Quite depressing really!

[BigLadFromBeeston666]

British ISA

• Fantastic to have another £5k (£10k if you're (un)fortunately married) to sling in the stock market.
• Sadly, the FTSE / LSE has seriously underperformed over recent years. I'm hoping there's a way to invest creatively here.

Full expensing for leased assets

• Does this apply to leased vehicles i.e. a company car? Not sure of the impact on us here.

Child care threshold £60-80k

• I haven't done the maths. Is there a rationale now for taking salary and dividends up to £60k? Extra dividend tax sure, but you're keeping a chunk of your child benefit now which you would've previously paid back.

National Insurance changes

• These have zero impact on us, I assume?

£3.4bn investment in NHS IT System Modernisation

• Currently polishing up my CV in anticipation ^_^

[DoctorStrangelove]

This can't be official since AtW didn't start it.

Or is Admin AtW now?

Just askin' like. .

[northernladuk]

[/LIST]£3.4bn investment in NHS IT System Modernisation

• Currently polishing up my CV in anticipation ^_^

You've not worked on NHS IT gigs before I take it?

[BigLadFromBeeston666]

You've not worked on NHS IT gigs before I take it?

If you can deal with the absolute insanity of the governance and bureaucracy, the public sector can be lucrative. It's the dealing with the insanity part the leads to atrocious retention. For permies and contractors.

[Fraidycat]

National Insurance changes These have zero impact on us, I assume?

£750 for those caught inside?

[sreed]

If you can deal with the absolute insanity of the governance and bureaucracy, the public sector can be lucrative. It's the dealing with the insanity part the leads to atrocious retention. For permies and contractors.

Last I was in the market (last summer) for a contract, an NHS Digital tech PM contract was offering sub 300pd (!) while the equivalent (at least from the role description and person spec) going rate at DWP digital and MOJ was 500-600pd. All inside paid through umbrella.

As per the agent, they were swamped with apps for the NHS role! It was remote with rare travel to Leeds compared to 2 days per week in the office for DWP/MOJ (any office for MOJ) but that’s still a big difference to bridge!

[Paracelsus]

The extra £5k ISA allowance, albeit for British cos only, is welcome - the £20k was already generous compared to many countries i.e. America where they have no tax-sheltered accounts beyond pensions, £25k is even better.

Hunt bigging-up Ben Houchen is a piss-take though - guy has recently been thoroughly exposed by Private Eye for giving away millions worth of public land/contracts to cronies. Business as usual for the party, but at least don't shamelessly mention the guy in a Budget...